It’s a startling number, more than 25 million people relied on loans from those close to them to meet spending needs, according to the Census Bureau’s latest household pulse survey on finances. That figure is up from 19.1 million people from the same time last year.Kaben Clauson, the CEO of Pigeon Loans, said a big reason could be that a third of all Americans are in a group called “credit invisible”. The “credit invisible” either have no real credit history or have a credit score that’s been damaged, and they can’t get a favorable rate.
Source: MG News
Return to News